NEW YORK, Jan 16 —- Goldman Sachs beat Wall Street estimates and earned its biggest quarterly profit in more than three years as its investment bankers brought in more deal fees,...
Najib: China never settled 1MDB debts; I used Jho Low for 2016 ECRL talks there as wanted quick riches for Malaysia
Shares rose 5.5 per cent in Wednesday morning trading as profit climbed to US$4.11 billion , or US$11.95 per diluted share, for the fourth quarter ended December 31, compared with US$2.01 billion, or US$5.48 per diluted share, a year ago.Banking industry executives anticipate better conditions for deals this year as the US Federal Reserve cuts interest rates and President-elect Donald Trump’s pro-business comments fuel optimism among investors.
“We have been bullish on GS stock because we think the market is not fully incorporating the upside potential of a strong M&A cycle,” Chris Kotowski, a banking analyst at Oppenheimer & Co, wrote in a note. Revenue in Goldman’s asset and wealth management arm climbed 8 per cent to US$4.72 billion, while revenue at its global banking and markets division increased by 33 per cent to US$8.48 billion in the fourth quarter.
Goldman’s credit-card partnership with Apple may end before its contract runs out in 2030, Solomon said.
Sachs Profit Hits Over Three-Year High As Investment Banking Trading Fuel Bumper Quarter
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